No matter how much an organisation tries to keep employees aware about expense policies, it still is impossible to achieve. And with that, comes a lot of non-compliant approvals. For the Finance Team, to deal with multitudes of expense approvals and accurately verify all attached invoices is a herculean task.
Manual auditing is exhaustive. Scavenging each bill one by one, there comes a time when all the bills start looking the same. We’ve been there too!
Smart Audit at rescue
Smart Audit, on Happay’s Expense Platform, reduces approval time via automation and gives approvers and the Finance Team better accuracy in sustaining company policies.
Equipped with impeccable modern age AI-enabled technology, Smart Audit inspects the expense receipts and validates them against predefined Audit rules, which are enabled independently or in combination.
Duplicate Checker – Finds the twin expenses
Have an invoice that’s already added in the system? Duplicate Checker of our Smart Audit module checks and flags if an invoice has already been submitted and displays the matched invoice with user and transaction details. See it in action in the video below.
Amount Accord – Find Overstated invoices
Invoice details don’t match with the recorded expense? With this feature, under Smart Audit, the system checks the invoice attachment for an exact match of the value entered in the ‘Amount’ field of the submitted expense.
Stay tuned for more updates on Smart Audit. Click here.
Item Validator – Find not-so characterised expenses
Are employees still claiming for prohibited items? With this feature, any item restricted by the organisation will be highlighted in the expense entry. The finance or Admin team can upload a list of restricted/ impermissible expense items (e.g: ‘alcohol’,’ chicken’ etc.) which will then be checked for in the expense attachments.
By narrowing down and highlighting the expense reports that need the most attention, Happay Smart Audit helps the Finance Team spend less time scrutinizing stacks of reports and have more time to focus on other aspects of their Jobs.